Principal Financial Group Inc. Purchases 38,201 Shares of The Charles Schwab Co. (NYSE:SCHW)

Principal Financial Group Inc. increased its holdings in shares of The Charles Schwab Co. (NYSE:SCHW) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,673,901 shares of the financial services provider’s stock after buying an additional 38,201 shares during the quarter. Principal Financial Group Inc.’s holdings in Charles Schwab were worth $432,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Resource Council acquired a new stake in shares of Charles Schwab during the third quarter worth about $312,000. Graypoint LLC increased its stake in Charles Schwab by 8.2% during the 3rd quarter. Graypoint LLC now owns 8,828 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 670 shares in the last quarter. Financial Enhancement Group LLC acquired a new stake in Charles Schwab during the 3rd quarter worth approximately $4,244,000. M&G PLC boosted its holdings in shares of Charles Schwab by 4.0% in the third quarter. M&G PLC now owns 146,129 shares of the financial services provider’s stock valued at $9,498,000 after buying an additional 5,600 shares during the period. Finally, Maia Wealth LLC increased its position in shares of Charles Schwab by 13.5% during the third quarter. Maia Wealth LLC now owns 38,722 shares of the financial services provider’s stock worth $2,510,000 after acquiring an additional 4,598 shares in the last quarter. 84.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Charles Schwab from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Piper Sandler upped their price objective on Charles Schwab from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on Charles Schwab from $64.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft cut their target price on Charles Schwab from $77.00 to $76.00 in a research note on Tuesday, October 15th. Finally, Bank of America decreased their price target on shares of Charles Schwab from $63.00 to $61.00 and set an “underperform” rating for the company in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.94.

Charles Schwab Stock Up 6.2 %

SCHW stock opened at $75.74 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $66.90 and a two-hundred day moving average price of $69.49. The company has a market cap of $134.69 billion, a price-to-earnings ratio of 29.58, a P/E/G ratio of 1.63 and a beta of 0.96. The Charles Schwab Co. has a twelve month low of $53.49 and a twelve month high of $79.49.

Charles Schwab (NYSE:SCHW) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.78 billion. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. Analysts anticipate that The Charles Schwab Co. will post 3.11 EPS for the current fiscal year.

Charles Schwab Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. Charles Schwab’s payout ratio is 39.06%.

Insider Activity

In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Charles R. Schwab sold 62,345 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $72.52, for a total value of $4,521,259.40. Following the completion of the sale, the chairman now directly owns 60,619,371 shares of the company’s stock, valued at $4,396,116,784.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolyn Schwab-Pomerantz sold 9,000 shares of Charles Schwab stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.05, for a total value of $576,450.00. Following the sale, the director now directly owns 554,929 shares of the company’s stock, valued at approximately $35,543,202.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,465 shares of company stock valued at $8,050,109 over the last three months. Insiders own 6.60% of the company’s stock.

Charles Schwab Profile

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.